Some of the high points for the county include a strong Fortune 500 company presence; market competitiveness; successful urban core revitalization; and a "climate safe zone." Downsides included a "poor transportation system;" high property tax rates; high poverty rates and job growth in low-wage jobs; low number of immigrants; uneven market performance; and economic liabilities around infrastructure, like bridges.
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Kristin Baker, executive director of LISC, says the median sale price for a single-family home in some areas has roughly doubled in the last five years. In Norwood, as an example, housing prices have gone from a median of $97,500 in 2014 all the way up to $185,000 in 2020, Baker said. We re seeing more out-of-town investors and buyers purchasing these single-family homes, so just because the sales prices are increasing does not mean they are continuing to be home ownership opportunities.
Baker says code compliance can be difficult with these real estate investment trusts, but the county can help smaller communities with enforcement.